Although cheap airplane tickets and cheap vacation packages from the United States to Mexico remain plentiful, visitors are finding it more difficult to pay for products and services while in Mexico using U.S. dollars. New Mexican currency laws went into effect in September which limit businesses, including restaurants and stores, to accepting a maximum of $100 in cash per transactions.
Certain Mexican businesses have started not accepting U.S. dollars for any purchases. Airlines at Mexican airports are no longer allowed to accept U.S. currency to pay for checked luggage fees or other charges.
The new currency law, which became effective September 14th, is part of a government initiative to put an end to drug related money laundering. Foreigners are now limited to exchanging no more than $1,500 per month into pesos.
The $100 per transaction limit is not being federally mandated but is being imposed by selective Mexican states, including Quintana Roo, where many of Mexicos most significant resort destinations are located, including Cancun, Cozumel, and Playa del Carmen.
The new currency laws do not cover credit or debit card purchases or the amount of pesos that U.S. visitors can withdraw from Mexican ATM machines. Travelers from the U.S. are being encouraged to purchase pesos before arriving in Mexico to minimize any inconvenience the exchange cap at banks may cause.
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